First Trust

In August 2022, Texas placed one or more funds from First Trust Advisors on its List of Financial Companies that Boycott Energy Companies list. The Comptroller’s office examined publicly available data, including licensed information from Bloomberg, LSEG Workspace, and MSCI, to identify U.S.-based funds that appear to restrict or prohibit investments in energy companies. However, in February 2026, a federal judge in Austin issued a ruling prohibiting enforcement of SB 13, the law that allowed the Texas Comptroller to create and maintain its Financial Companies that Boycott Energy Companies list. The court held that the law infringed upon First and Fourteenth Amendment protections. The plaintiffs argued that SB 13 unlawfully penalized financial firms for engaging in protected speech and investment decisions related to ESG policies, effectively compelling viewpoint-based certifications to do business with the state. The State of Texas, however, contended that SB 13 represented a lawful exercise of its authority to direct state investments and contracting decisions and to protect the state’s energy industry from what it characterized as discriminatory financial practices. In February 2026, the Texas Comptroller’s Office and the Texas Attorney General’s Office appealed the ruling to the Fifth Circuit Court of Appeals. The case remains pending (1)(2)(3)(4)(5). First Trust has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (6).

The FT Cares Foundation does not discriminate against charitable organizations based on views or beliefs (1).

First Trust does not provide viewpoint protections for its employees (1).

First Trust has not supported ideological causes or policies (1).

First Trust has not used corporate funds to advance ideological causes, organizations, or policies (1).

First Trust does not operate a PAC at this time and has not reported on its lobbying (1)(2)(3).